Theory and applications of cost-benefit analysis

Aims

This course aims to provide student with: A practical guide to the application of CBA to help decide costs and benefits of implementing a variety of different types of innovation projects.

Prerequisites

Bachelor’s degree in economics or related field
  

Learning Outcomes

A student that has understood the underlying concepts and their applications will be able, especially as he/she accumulates experience, to discuss the cost and benefits of an innovation strategy project as well as to evaluate a the project on the basis of various decision rules. To this effect students are expected by the end of the course to §  Clearly understand the key concepts of strategically using innovation and knowledge in business.  §  Clearly understand the basic elements of innovation strategy and the significance of an innovation (and knowledge) management strategy for small and medium sized enterprises (SMEs).  §  Understand the different types of innovation and how they affect firm performance.  §  Managing risk and reward in an innovation portfolio.  §  Acquire basic knowledge about appropriability strategies within the context of value generation vs value capturing  §  Understand Organizational Contingencies that explain cross-firm heterogeneity in terms of their capacity to manage external knowledge.   

Syllabus

Through a series of lectures, cases, readings and exercises students develop competencies so as to understand costs and benefits in innovation strategy projects at an SME, understand the strategic implications of current and emerging technologies, and manage knowledge and change. 

Content Delivery

The primary modes delivery are: lectures, discussion, studying, and examples.  

Coursework And Assignment Details

Assignment: Case Study (30%)   Students should prepare one case study, in which they will have to consider, discuss and analyze issues of relevance to the course.  Students can work in groups with up to 3 participants     Final Exams (60%) Various topics, combination of theory and exercises     Participation in class discussion (10%)